Question: You have the following information from the market Demand function: QD=270-5P Supply function: QS=-70+5P Submit answers in two decimal places if you get answers in decimals/fractions 1.What is the economic cost of the sellers? 2.Government has imposed a tax regulation of 5 taka. Assume that buyers and sellers both share the tax burden equally. 3.What is the consumer surplus after tax? 4.What is the producer surplus after tax?

Q: What does poor infrastructure mean in economics? Explain thoroughly and provide examples

A: Infrastructure is a critical component of economic development. It increases productivity and improv...

Q: Three buyers want to purchase a used fridge. Their willingness-to-pay for a fridge is: • Frankie $10...

A: Here, it is given that a market for used fridge has three buyers and two sellers, whose willingness ...

Q: If two goods were perfect substitutes of each other, it necessarily follows that

A: To find : what happens when two goods are perfect substitutes. 

Q: A monopolist's inverse demand function is estimated as P= 150 – 3Q. The company produces output at t...

A: Solution:(a)  P = 150-3Q MC1 (Q1) =6Q1 MC1 (Q2) =2Q2 Hint: Q1 + Q2 Thus, P = 150 -3Q1-3Q2 MR = 150-6...

Q: Read the passage. Then answer the question that follows. The Denim Company is a producer of jeans, w...

A: In monopoly, eqm quantity is found by the intersection of MC(marginal cost) and MR(marginal revenue)...

Q: 3. Suppose the individual has a utility function In(c) where c is consumption and In(-) is the natur...

A: Expected  Utility: It is the weighted average of all possible outcomes under various circumstances. ...

Q: Suppose that the following C, I, G, and NX is given by: C = 100 + 0.8OY G = 100 | = 200 NX = 300 - 0...

A: Aggregate expenditure is the sum of consumption, investment, government spending and net exports.

Q: What are some of the economic reasons causing nations to support their international carriers

A: Economic integration is a treaty between countries that usually involves the elimination or reductio...

Q: Elinore is asked to invest $4,900 in a friend's business with the promise that the friend will repay...

A: Opportunity cost: - opportunity cost is a forgone benefit that we could have earned by applying all ...

Q: Q1- Find the gross domestic product/income using the income and expenditure method? Q2- personal inc...

A: The measure that depicts the final value of goods and services being produced in an economy within a...

Q: A firm sells its product in a perfectly competitive market where other firms charge a price of $100 ...

A: (a) A perfectly competitive firm produces at P=MC in short run.  C = 60 + 12Q + 2Q2 Differentiate C ...

Q: Microeconomic Question (c) Use well labelled diagrams to show how production isoquant can be used t...

A: The Law of Returns to scale states that when all the factors of production are increased in the same...

Q: Suppose that single-price, single-product and single- plant monopolist faces the following demand P-...

A: Given  Demand curve faced by monopolist: Q=P-7120                 ... (1) Monopolist cost function: ...

Q: If the price of cattle skin falls what will happen to the equilibrium price and equilibrium quantity...

A: Equilibrium occurs at such a price where quantity demanded equals quantity supplied. 

Q: a.) Graph Teddy's demand curve, with quantity on the x-axis. Suppose there is another consumer in th...

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question spec...

Q: A woman invested Php37,000, part at 8% and the rest at 9.5% annual interest. If the 9.5% investment ...

A: Given that: Total investment = 37000 Interest rate of part 1 (r1) = 8% Interest rate of part 1 (r2) ...

Q: Question 4 The COVID-19 pandemic has created a surge of patients going to hospitals, at times threat...

A: During the COVID 19, with the healthcare implications and with the rising demand of the hospital bed...

Q: If new cars are an elastic good then: If the price of new cars goes up people will buy more If the p...

A: The elasticity of demand explains the percentage change in quantity demanded due to the percentage c...

Q: 48. Find the present worth of perpetuity of P10,000 semi annually with an interest rate of 10% quart...

A: The worth is the ratio of annuity to semiannual. It means as the annuity is positively related to th...

Q: Consider the market for electronic components ("chips") and assume that there is complete competitio...

A: Supply bottlenecks Supply bottlenecks means the pressure on the seller to increase or decrease suppl...

Q: 1. ATM Rules > For each Total equation below, apply the ATM RULES to find the associated Average and...

A: Given, T=12+3Q where T is the Total cost function The average cost is defined as the cost of product...

Q: Explain the meaning and importance of studying environmental policy?

A: To find : Importance of studying environmental policy. 

Q: There is an oil change firm in town called Oil Pro. The total cost function for Oil Pro is below. Wh...

A: In perfectly competitive market, firms produce identical goods so they do not have any control over ...

Q: QUESTION: Can you decide whether to invest after these analyses? If not, what to do next?

A: If money is invested in money market  then to calculate the return on $190000 ( as this is the highe...

Q: QUESTION 12 The interest rate in Pakistan is 0.4, the exchange rate is 1.0 and market participants e...

A: Q 12 Its answer is d : 0.25 Interest rate of Pakistan = 0.4 Exchange rate of Pakistan = 1.0 Market p...

Q: Individuals will prefer to fully insure against a potential adverse event if A. individuals are ris...

A: In a market, people have individual differences and different behaviour to make an exchange based on...

Q: Product Market Households Businesses Factor Market The flow of goods and services to consumers is il...

A: The circular flow of income refers to the model in which the economic agents exchange money and good...

Q: n Engineering Economics, which among these is/are true about a discount? A. It is the difference bet...

A: In engineering economics, the discount rate is the rate that is paid on the given set of cashflows. ...

Q: Consider a market that is described by the demand equation P=100-Q and supply equation P=Q. If a $20...

A: Eqm is found by the intersection of dd(demand) and ss(supply). Here, the eqm price is 50 and eqm qua...

Q: Drop box one options ( costs of producing or market value of or wholesale cost of) Drop box two (fin...

A: The following boxes can be completed based on the different set of options is as follows :  

Q: The Canadian Consumer Price Index was approximately 98.5 (base year 1992) at the beginning of 1991. ...

A: Given: The CPI at the beginning of 1991 is = 98.5 The annual inflation rate is = 3% To Find: The ind...

Q: The Development is both Right and Privilege?

A: In Economics, development is the process of creating wealth for the benefit of the community. It's m...

Q: It is impossible that a country runs a negative trade balance over decades.  True  False

A: Balance of trade is a concept through which a country can always keep track of all its imports and e...

Q: State the role of money in the economy

A: When talking about money in economics, it plays a vital role in making an effective exchange of good...

Q: 4) Consider the following production function F(K, L) = 6K° 25 L05 a) Does it display constant, incr...

A: Introduction Here is a Cobb Douglas production function has given. a) The given production function ...

Q: machine is bought P420,000 with an economic life of 6 years and a salvage value of P50,000.The cost ...

A: To find : Deprecation. 

Q: QUESTION 5 5. You are given the following information about an economy: $millions GDP at Market Pric...

A: Since you have posted a question with multiple sub-parts, we will solve first three sub- parts for y...

Q: Where inconsistencies in the formulae are necessary, which off the following principles and techniqu...

A: Option D is the correct answer

Q: 1. Suppose the supply function for product X is given by QxS = - 50 + 0.5Px - 5Pz. How much of produ...

A: Cross price elasticity: When the cross-price elasticity value is greater than 1 then it is known as ...

Q: a) The income elasticity of Abigail’s demand for CDs is 0.75. For Abigail CDs are a normal good or a...

A: Income elasticity measures the change in demand due to change in income.

Q: In 5 years, P 180,000 is needed for a building renovation. In order to generate this amount, a sinki...

A: Answer: (d) P39,195

Q: Marilyn opens an insurance brokerage. Which of the following is an example of her implicit cost? Ren...

A: Opportunity cost: - opportunity cost is a forgone benefit that we could have earned by applying all ...

Q: 50. The present worth of of P40,000 in the first year and amounts o increasing by P3,000 per year th...

A:   PV=40,0001(1+0.13)1+43,0001(1+0.13)2+46,0001(1+0.13)3+49,0001(1+0.13)4+52,0001(1+0.13)5    =3539.2...

Q: The following table states pre-Covid round-trip airfares (for a two-week trip in February,  booked w...

A: Price discrimination refers to when the firm charges different prices to different customers for the...

Q: Find the value of B. Quantity Total Cost $5,000 Fixed Cost Variable Cost $1,000 $1,000 |Average Tota...

A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building, machiner...

Q: Exercise 3. 6olve the following perfect information game using backwards induc- tion. As a part of y...

A: Given information: There are two  players in the game: Player 1 and Player 2 The payoffs at the end ...

Q: If the price elasticity of demand is -0.11, what would be the change in price if quantity supplied i...

A: Price elasticity of demand: - Price elasticity of demand measures the responsiveness of change in de...

Q: Define what we mean by an countercyclical variable and give an example.

A: Macroeconomics is an important aspect and criteria for a country. Aggregate demand and aggregate sup...

Q: Look at the graph. Then answer the question that follows. PA D1 D2 P1- Q1 Q2

A: Here, it is given that Destiny and Kismet are two substitutes in the automobile industry and the giv...

Q: Jerome consumes only two goods, eggs and beans. His preferences are complete, monotonic, and convex....

A: To find : Which will be correct choice.